LED major Eon Electric looks for land along Yamuna e-way

Officials said the company proposed to invest close to Rs 2,000 crore for the project. The land will be officially earmarked and handed over as soon as YEIDA receives a formal proposalTNN | August 26, 2015, 12:29 IST

Recently, mobile phone maker LAVA was allotted a 100-acre plot along the expressway. "100 acres of land near sectors 24 and 37 have been identified to set up the manufacturing cluster after the delegates perused various land options," said Arunbir Singh, additional CEO, YEIDA.

Officials said the company proposed to invest close to Rs 2,000 crore for the project. The land will be officially earmarked and handed over as soon as YEIDA receives a formal proposal. The firm, meanwhile, promised to hand it over to the state soon. YEIDA expects production to start within two years after that, officials said. YEIDA has also assured full support in project implementation by the company. All incentives available under the state's Infrastructure & Industrial Investment policy and Electronic Manufacturing policy will be provided to the investors, officials further added.

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The unused Input Tax Credit (ITC) on goods and services lying with the property developers as on March 31 will be reversed for under-construction properties since the ITC stands to lapse from April 1 for such houses.